Saudi Arabia issued 80 permits for new industrial projects in December as the Gulf Kingdom pursued a drive to ease reliance on unpredictable oil export earnings within its Vision 2030 economic scheme, according to official data. 

The number of permits was the highest monthly average in the second half of 2021 following the relaxation of curbs associated with Coronavirus,  the National Centre for Industrial Information said without providing figures for previous months. 

The new permits brought to nearly 10,293 the total number of industrial units operating in the world’s largest oil exporter, the report showed. 

The new projects cover metals, food products, paper, building materials and other light products and nearly 33 of them are based in the capital Riyadh. 

“The measures taken by the Industry and Mineral Resources Ministry to facilitate investment contributed to a pick-up in industrial investment,” the report said. 

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)  

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